March 2020

Found 10 blog entries for March 2020.

 The Economic Impact of Buying a Home | MyKCM

 

We’re in a changing real estate market, and life, in general, is changing too – from how we grocery shop and meal prep to the ways we can interact with our friends and neighbors. Even practices for engaging with agents, lenders, and all of the players involved in a real estate transaction are changing to a virtual format. What isn’t changing, however, is one key thing that can drive the local economy: buying a home.

We’re all being impacted in different ways by the effects of the coronavirus. If you’re in a position to buy a home today, know that you’re a major economic force in your neighborhood. And while we all wait patiently for the current pandemic to pass, there are a lot of things you can do in the meantime to keep your home search

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Covid 19 Concerns Are Real

Concerns over the spread of Covid 19 have quickly changed how we conduct real estate sales in Central Oregon over the past few weeks. Shelter in place, social distancing, travel constraints, economic concerns, social changes, and just an overall fear of catching the coronavirus has really impacted human behavior. As a result, we are seeing two distinctly different groups here at Bend Premier Real Estate when it comes to real estate transactions. 

Get me out!

The first group was the first to emerge as soon as the panic set in. With predictions of massive layoffs and record unemployment, we started to hear concerns of potential job loses and uncertainty which resulted in people needing to pull out of existing deals.

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Peter Skene Ogden Trail Provides Waterfalls and Privacy

Paulina Creek WaterfallThree weeks into the coronavirus pandemic in the United States and one week into the shut down of Oregon's State Parks, we have been searching for options where we can enjoy a hike with plenty of space to keep six feet away from others which is now the norm. Yesterday we traveled 23 miles south of Bend and took the road toward Paulina National Monument, turning off on the dirt road to McKay Crossing.  The campground at the crossing was closed, but the Peter Skene Ogden Trail was open and we hiked roughly 3.5 miles up the trail until snow accumulation kept us from going further.

We have hiked this trail before, going all 7 miles up to Paulina Falls at Paulina Lake in the Newberry Crater. 

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Don’t Let Frightening Headlines Scare You

Don’t Let Frightening Headlines Scare You | MyKCM

There’s a lot of anxiety right now regarding the coronavirus pandemic. The health situation must be addressed quickly, and many are concerned about the impact on the economy as well.

Amidst all this anxiety, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, we will continue to see a rash of horrifying headlines over the next few months. Let’s make sure we aren’t paralyzed by a headline before we get the full story.

When it comes to the health issue, you should look to the Centers for Disease Control and Prevention (CDC) or the World Health Organization (WHO) for the most reliable information.

Finding reliable resources with

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Bessie Butte is a Little Known Bend Hike

Bessie ButteJust a short drive east on China Hat Road in SE Bend you can find Bessie Butte. A quick 1.5 mile round trip, the hike has 500 feet elevation gain and easy access. Although not as well known or used as Pilot Butte, Bessie Butte is a great hiking option and provides for wonderful views from the top.

On Sunday, March 22, 2020, after being at home during the Covid-19 pandemic, we drove the short distance to the Bessie Butte trail head and hiked to the top. During the walk, we did pass several parties coming down, but there were plenty of places to step aside and keep the distance needed to maintain safe separation. It was a beautiful day and although we wished the hike could have been longer, the views were

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Bend Oregon Home Sellers Have OptionsMatterport Dollhouse

In this never before seen world with the coronavirus pandemic changing how we live our lives, having options on how buyers can tour a home is invaluable. At Bend Premier Real Estate, we invested as a brokerage in Matterport 3D two years ago. We currently own two cameras complete with all the set ups required and have two videographers trained to film these tours. 

For our sellers, the benefit of having buyers virtually walking through their home enables us to screen through buyers for whom the house may not work - all without physically being there. For buyers, the opportunity to view the home in 3D can help them determine if that property makes their top list and eliminates time and work in viewing homes which

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Boxwood Kitchen in Bend's Old Mill District is Sure to Delight

Being the foodies we are, we really enjoy finding restaurants that are off the beaten path. One such restaurant we recently enjoyed was Boxwood Kitchen. Although located in the Old Mill District, this dining experience will not be found on the main road but rather was tucked in behind Naked Winery and Jimmy Johns. 

We have visited Boxwood on several occasions since they opened their doors last year and their wonderful dishes have yet to disappoint. On our most recent visit we were able to enjoy an intimate setting with some close friends and really take the "Supperclub" name to heart. We were able to enjoy a nice leisurely dinner with plenty of good food, drinks and even some laughs with

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Will Coronavirus Change the Central Oregon Real Estate Market?

With the outbreak of the coronavirus worldwide, which has sickened thousands and created panic and uncertainty in our stock market, we are left to question if the effects will extend to the US real estate market, and more specifically to our local Central Oregon real estate market.

Coronavirus Pushes Down Interest Rates

Coronavirus Impacting Stock Market

Mortgage Interest Rates have already fallen to new record lows (3.29% as of March 5th) as investors are taking money out of the volatile stock market and putting it into safer US Treasury Bonds. Historically, when bonds are strong, mortgage rates go down.

Although record low rates are bound to get some home buyers off the fence to take advantage of their greater

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Lack of Inventory Impacting Bend Real Estate

Bend Homes for Sale

A mild winter and continued high demand has led to a boom for February 2020 home sales in Bend. When the February 2020 sales of Bend single family homes on less than an acre are compared with February 2019, the following changes can be noted:

  • Homes for sale down 36.7% to 252*
  • Homes sold up 17.6% to 127
  • Homes pended up 51% to 219
  • Average price per square foot up 7.3% to $265
  • Average days on market up 10.1% to 131
  • Sold/Original listing price difference percentage unchanged
  • Average active price up 13.2% to $771,000
  • Average sold price up 11.7% to $564,000
  • Months of inventory  down 46.1% to 2

Bend Home Sales Not Following Normal Trends

Winter is typically a slower time

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